CRUDE

The oil took the support at 20-day Sma at 104.50 levels. In yesterdays session, it made a low at 104.66 and resisted at 35 Dema 105.67 levels. Until the price holds above the 20-day Sma, we can see an upside journey in the coming weeks. We can expect an upside target at 108 and 110 levels with a sl 103.25 (50-day Sma).

The pair is facing resistance at 105.65 (35 Dema), above this, 106 is the main resistance level (34 Hr Sma). Safe traders can buy above 106 for 107, 107.45, 108 and 110 levels. The oil has strong support at 104.60, below this, 104 and 103.25 are the crucial levels for bulls to hold. The hourly RSI favors buying on the dips.